Alberta Investment Management Corp Purchases New Stake in Lineage, Inc. $LINE

Alberta Investment Management Corp bought a new position in shares of Lineage, Inc. (NASDAQ:LINE) in the fourth quarter, HoldingsChannel reports. The firm bought 183,900 shares of the company’s stock, valued at approximately $6,436,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Waterfall Asset Management LLC bought a new stake in shares of Lineage during the 3rd quarter valued at about $6,275,000. Charles Schwab Investment Management Inc. raised its stake in Lineage by 11.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 926,149 shares of the company’s stock worth $32,415,000 after buying an additional 93,188 shares in the last quarter. SCP Investment LP raised its stake in Lineage by 113.3% in the third quarter. SCP Investment LP now owns 480,000 shares of the company’s stock worth $18,547,000 after buying an additional 255,000 shares in the last quarter. Barclays PLC raised its position in shares of Lineage by 8,719.8% in the 3rd quarter. Barclays PLC now owns 1,022,125 shares of the company’s stock worth $39,495,000 after acquiring an additional 1,010,536 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Lineage by 839.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 139,702 shares of the company’s stock worth $5,398,000 after acquiring an additional 124,833 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LINE shares. Royal Bank Of Canada lifted their price target on Lineage from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Lineage in a report on Friday, March 27th. The Goldman Sachs Group lifted their target price on shares of Lineage from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, March 20th. Wells Fargo & Company dropped their price target on Lineage from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Finally, Evercore set a $44.00 price target on Lineage in a research note on Monday, June 8th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Lineage presently has a consensus rating of “Hold” and an average price target of $43.82.

Lineage Trading Down 1.2%

Shares of NASDAQ:LINE opened at $42.83 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.85 and a quick ratio of 0.76. Lineage, Inc. has a 1 year low of $31.33 and a 1 year high of $46.61. The company has a market cap of $9.75 billion, a P/E ratio of -69.08 and a beta of 0.88. The stock’s fifty day moving average price is $39.23 and its 200-day moving average price is $37.41.

Lineage (NASDAQ:LINE) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of ($0.23) by $1.01. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the company earned $0.86 EPS. Lineage’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts expect that Lineage, Inc. will post 2.44 earnings per share for the current year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Lineage’s dividend payout ratio (DPR) is presently -343.55%.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.